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Loewen, Ondaatje, McCutcheon to Raise $3 Million
November 29, 2007
Zecotek Announces $3 Million Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMENATION IN THE UNITED STATES. Vancouver, BC – November 29, 2007 - Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt- W1I.F), formerly Zecotek Medical Systems, Inc., today announced that it has engaged Loewen, Ondaatje, McCutcheon Limited (“Loewen�?) to conduct a brokered private placement to raise, on a best efforts agency basis, up to $3 million through issue of up to 1,875,000 units of the company at a price of $1.60 per unit (the “Unit�?). Net proceeds from the funds raised will be used for working capital purposes and for ongoing projects presently underway at its operating facilities in Singapore, Malaysia and Vancouver: finalizing the commercial production of the Zecotek’s solid-state MAPD photo-detector, addressing growing requests for the Company’s fiber and solid-state lasers, and initiating commercial scale production of the Company’s high performance RFO vanadate laser crystals and establishing a strategic manufacturing and distribution partnership for the Company’s 3D display system. - 30 - About Zecotek Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I) is a photonics technology company developing high-performance crystals, photo detectors, lasers, optical imaging and 3D display technologies for commercial applications in the medical diagnostics and high-tech industry. Founded in 2003, the company has three distinct operating divisions: imaging, lasers and 3D display and labs located in This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This press release may contain forward-looking statements that are based on management's expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what may have been stated. For additional information please contact: Zecotek Photonics Inc., MICHAEL MINDER, CFO; Corporate Development, T: (604) 827-5203 Caliber Capital Partners, TIM MCNULTY, T: (778) 327-6678, E: ir@zecotek.com The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. If you would like to receive news from Zecotek in the future please visit the corporate website at www.zecotek.com. |